The Entrance in Foreign Markets in the Field of Biotechnology and the Consideration of Socio-Cultural Particularities - Using the example of SeaLife Pharma (Paperback)

Seminar paper from the year 2010 in the subject Business economics - General, grade: 1,0, Wurttembergische Verwaltungs- und Wirtschafts-Akademie e.V., language: English, comment: This paper describes the term biotechnology and how a small Austrian startup enterprise could enter into foreign markets. The paper combines knowledge of Intercultural and International Management constantly referring to biotechnology. Biotechnology is explained largely focusing on marine biotechnology. Biotechnology in Austria is analyzed according to Hofstede. Moreover Austria's general attitude towards biotechnology is described. Finally it is explained what has to be considered while entering into new markets and which market entry strategy could be pursued by this enterprise., abstract: This paper describes the term biotechnology and how a small Austrian startup enterprise could enter into foreign markets. The paper combines knowledge of Intercultural and International Management constantly referring to biotechnology. This paper is divided into 3 major chapters. The second chapter defines biotechnology generally and furthermore gives an insight in marine biotechnology using the example of a concrete enterprise. Afterwards cultural and socio-political particularities in the fields of biotechnology are explained based on Austria where this startup enterprise is headquartered and currently operating. The fourth chapter concentrates on concrete foreign market entry strategies which could be applied by this startup enterprise. Finally every aspect is summarized and a final recommendation is given.